CARLO PRINTING: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
CARLO PRINTING
Largest movements
- Cash +€52,677
up €52,677 (+91.8%), from €57,360 to €110,038
mainly Trade debts (+€53,581) and Debts after one year (+€33,620)
- Tangible fixed assets +€40,266
up €40,266 (+47.1%), from €85,476 to €125,742
of which Plant, machinery and equipment: +€49,082
- Receivables within one year +€9,692
up €9,692 (+41.5%), from €23,366 to €33,057
of which Other amounts receivable: +€8,151
- Stocks and contracts +€3,069
up €3,069 (+81.3%), from €3,774 to €6,844
- Trade debts +€53,581
up €53,581 (+184%), from €29,123 to €82,705
- Debts after one year +€33,620
up €33,620 (+154%), from €21,812 to €55,432
- Reserves +€12,956
up €12,956 (+20.2%), from €64,008 to €76,964
of which Distributable reserves: +€15,820
- Current portion of long-term debt +€8,838
up €8,838 (+117%), from €7,541 to €16,379
- Tax, wage and social debts -€2,791
down €2,791 (-43.4%), from €6,430 to €3,640
of which Taxes: -€4,306
- Gross operating margin +€9,475
up €9,475 (+24.6%), from €38,586 to €48,061
- Taxes +€1,601
up €1,601 (+42.7%), from €3,752 to €5,353
- Depreciation -€727
down €727 (-3.1%), from €23,697 to €22,970
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €172,764 | €278,866 | +€106,102 | +61.4% |
| Fixed assets | 21/28 | €85,526 | €126,627 | +€41,101 | +48.1% |
| Intangible fixed assets | 21 | €0 | €835 | +€835 | |
| Tangible fixed assets | 22/27 | €85,476 | €125,742 | +€40,266 | +47.1% |
| Plant, machinery and equipment | 23 | €2,021 | €51,103 | +€49,082 | +2,429% |
| Furniture and vehicles | 24 | €50,328 | €36,941 | -€13,387 | -26.6% |
| Leasing and similar rights | 25 | €18,559 | €14,037 | -€4,522 | -24.4% |
| Other tangible fixed assets | 26 | €14,568 | €23,661 | +€9,093 | +62.4% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €87,238 | €152,239 | +€65,001 | +74.5% |
| Stocks and contracts in progress | 3 | €3,774 | €6,844 | +€3,069 | +81.3% |
| Stocks | 30/36 | €3,774 | €6,844 | +€3,069 | +81.3% |
| Amounts receivable within one year | 40/41 | €23,366 | €33,057 | +€9,692 | +41.5% |
| Trade receivables | 40 | €23,070 | €24,611 | +€1,541 | +6.7% |
| Other amounts receivable | 41 | €295 | €8,446 | +€8,151 | +2,760% |
| Cash at bank and in hand | 54/58 | €57,360 | €110,038 | +€52,677 | +91.8% |
| Deferred charges and accrued income | 490/1 | €2,737 | €2,300 | -€437 | -16.0% |
| Total equity and liabilities | 10/49 | €172,764 | €278,866 | +€106,102 | +61.4% |
| Equity | 10/15 | €84,008 | €96,964 | +€12,956 | +15.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €64,008 | €76,964 | +€12,956 | +20.2% |
| Tax-exempt reserves | 132 | €33,587 | €30,723 | -€2,864 | -8.5% |
| Distributable reserves | 133 | €30,421 | €46,241 | +€15,820 | +52.0% |
| Provisions and deferred taxes | 16 | €2,827 | €2,111 | -€716 | -25.3% |
| Deferred taxes | 168 | €2,827 | €2,111 | -€716 | -25.3% |
| Amounts payable | 17/49 | €85,929 | €179,791 | +€93,863 | +109% |
| Amounts payable after more than one year | 17 | €21,812 | €55,432 | +€33,620 | +154% |
| Financial debts | 170/4 | €21,812 | €55,432 | +€33,620 | +154% |
| Amounts payable within one year | 42/48 | €62,767 | €123,010 | +€60,243 | +96.0% |
| Current portion of amounts payable after more than one year | 42 | €7,541 | €16,379 | +€8,838 | +117% |
| Trade debts | 44 | €29,123 | €82,705 | +€53,581 | +184% |
| Suppliers | 440/4 | €29,123 | €82,705 | +€53,581 | +184% |
| Taxes, remuneration and social security | 45 | €6,430 | €3,640 | -€2,791 | -43.4% |
| Taxes | 450/3 | €6,430 | €2,125 | -€4,306 | -67.0% |
| Remuneration and social security | 454/9 | - | €1,515 | +€1,515 | |
| Other amounts payable | 47/48 | €19,672 | €20,286 | +€614 | +3.1% |
| Accrued charges and deferred income | 492/3 | €1,350 | €1,350 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,697 | €22,970 | -€727 | -3.1% |
| Other operating charges | 640/8 | €5,537 | €5,652 | +€115 | +2.1% |
| Gross operating margin | 9900 | €38,586 | €48,061 | +€9,475 | +24.6% |
| Operating profit (loss) | 9901 | €9,352 | €19,439 | +€10,087 | +108% |
| Financial income | 75/76B | €97 | €1 | -€95 | -98.7% |
| Recurring financial income | 75 | €97 | €1 | -€95 | -98.7% |
| Financial charges | 65/66B | €1,735 | €1,847 | +€112 | +6.5% |
| Recurring financial charges | 65 | €1,735 | €1,847 | +€112 | +6.5% |
| Profit (loss) for the period before taxes | 9903 | €7,713 | €17,593 | +€9,879 | +128% |
| Transfer from deferred taxes | 780 | €716 | €716 | = | 0.0% |
| Income taxes | 67/77 | €3,752 | €5,353 | +€1,601 | +42.7% |
| Profit (loss) for the period | 9904 | €4,677 | €12,956 | +€8,278 | +177% |
| Transfer from tax-exempt reserves | 789 | €2,864 | €2,864 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,541 | €15,820 | +€8,278 | +110% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.